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How Can I Tell Where My Referral Program Is Underperforming?
The best way to diagnose an underperforming referral program is to look at each stage of the referral funnel separately. Instead of looking at one number and deciding the program is not working, use your Referral Factory data to identify where people are dropping out.
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OverviewLots of customers, but very few ReferrersYou have Referrers, but Reach is lowReach is good, but very few people become LeadsYou have plenty of Leads, but few become QualifiedConversion looks good, but the program is expensiveA small number of Referrers generate most of your resultsLook at the funnel, not one number
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